58.1-3.3 - Deemed consent to disclosure. - Virginia Statutes

§ 58.1-3.3. Deemed consent to disclosure.

When a credit or other tax attribute has been transferred from a transferorto a transferee pursuant to a statutory provision permitting such transfer,then:

1. The transferor shall be deemed to consent to the disclosure to thetransferee of any confidential tax information relevant to the eligibilityand value of the credit or other tax attribute transferred; and

2. The transferee shall be deemed to consent to the disclosure by theDepartment to the transferor of the amount of the transferred credit or othertax attribute used or absorbed on the transferee's tax return when suchdisclosure is necessary in the administration of the chapter.

(2008, c. 549.)